Common use of Permitted Contingent Obligations Clause in Contracts

Permitted Contingent Obligations. Contingent Obligations (a) arising from endorsements of Payment Items for collection or deposit in the Ordinary Course of Business; (b) arising from Hedging Agreements permitted hereunder; (c) existing on the Closing Date, and any extension or renewal thereof that does not increase the amount of such Contingent Obligation when extended or renewed; (d) incurred in the Ordinary Course of Business with respect to surety, appeal or performance bonds, or other similar obligations; (e) arising from customary indemnification obligations in favor of purchasers in connection with dispositions of Equipment permitted hereunder; (f) arising under the Loan Documents; or (g) guarantee obligations of a Borrower or any Domestic Subsidiary in respect of Debt or operating leases and other non-Debt obligations otherwise permitted under this Agreement of a Borrower or any wholly-owned Domestic Subsidiary. Permitted Discretion - a determination made in good faith and in the exercise of commercially reasonable (from the perspective of a secured second-lien lender) business judgment. Permitted Distributions - Distributions to the extent permitted under Sections 9.2.17(g), (h) and (i). Permitted Investment - investments described in clauses (a) - (i) of the definition of Restricted Investment. Permitted Lien - as defined in Section 9.2.2.

Permitted Contingent Obligations. Contingent Obligations (a) arising from endorsements of Payment Items for collection or deposit in the Ordinary Course of Business; (b) arising from Hedging Agreements permitted hereunder; (c) existing on the Closing Date, and any extension or renewal thereof that does not increase the amount of such Contingent Obligation when extended or renewed; (d) incurred in the Ordinary Course of Business with respect to surety, appeal or performance bonds, or other similar obligations; (e) arising from customary indemnification obligations in favor of purchasers in connection with dispositions of Equipment permitted hereunder; (f) arising under the Loan Documents; or (g) guarantee obligations of a Borrower or any Domestic Subsidiary in respect of Debt or operating leases and other non-Debt obligations otherwise permitted under this Agreement of a Borrower or any wholly-owned Domestic Subsidiary. Permitted Discretion - a determination made in good faith and in the exercise of commercially reasonable (from the perspective of a secured second-lien lender) business judgment. Permitted Distributions - Distributions to the extent permitted under Sections 9.2.17(gSection 10.2.17(g), (h) and (i). Permitted Investment - investments described in clauses (a) - (i) of the definition of Restricted Investment. Permitted Lien - as defined in Section 9.2.210.2.2.